account frozen and customer service has no idea why | EQ Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
account frozen and customer service has no idea why
May 11, 2022
7:51 am
limonium
Member
Members
Forum Posts: 11
Member Since:
September 27, 2020
sp_UserOfflineSmall Offline

On May 5 my scheduled monthly transfer to an EQ connection did not go through. I received an email from alerts@eqbank.ca saying "we were unable to process your recurring transaction for $150.00 because the amount of the transfer was greater than the available balance or a temporary hold has been placed on account ****." There is over $100K in the account. I tried to do a transfer manually and got a message simply saying "this transfer cannot be completed." I used the chat function to talk to customer service. They said they cannot see any holds on the account and also cannot see a record of the email being sent. (They thought it was a phishing email until I copied and pasted the text to them. ) They said they would "open a case and have our team look into the issue, as it shouldn't be happening." I asked how long it would take and they said up to 3 business days. Today is day 2. Has anyone experienced anything like this? I am not feeling confident at all.

May 11, 2022
8:20 am
turquoise
Member
Members
Forum Posts: 53
Member Since:
April 30, 2022
sp_UserOfflineSmall Offline

When you spoke to the EQ rep, did they confirm for you that the balance is still in the account? If so, then I would be a lot less worried.

May 11, 2022
8:25 am
limonium
Member
Members
Forum Posts: 11
Member Since:
September 27, 2020
sp_UserOfflineSmall Offline

Yes, and I can see that it is still there.

May 11, 2022
8:30 am
turquoise
Member
Members
Forum Posts: 53
Member Since:
April 30, 2022
sp_UserOfflineSmall Offline

limonium said
Yes, and I can see that it is still there.  

Phew -- OK that's great to hear. So, it's really just a matter of time before this gets sorted out. In the meantime, you'll still earn interest.

Once it does get cleared up, though, you may want to consider (if it's viable) moving the funds out. Motive usually has a pretty good HISA and they are CDIC insured (I think it's called a 'money mover' savings account).

May 11, 2022
9:58 am
JohnnyCash
Member
Members
Forum Posts: 38
Member Since:
April 21, 2022
sp_UserOfflineSmall Offline

turquoise said

Phew -- OK that's great to hear. So, it's really just a matter of time before this gets sorted out. In the meantime, you'll still earn interest.

Once it does get cleared up, though, you may want to consider (if it's viable) moving the funds out. Motive usually has a pretty good HISA and they are CDIC insured (I think it's called a 'money mover' savings account).  

The Motive HISA account is named Savvy Savings. Money Mover is the EFT process to transfer funds to and from other financial institutions. The Savvy savings account is currently paying 1.45%. Motive is not favorite financial institution, I do find them reliable though.

May 11, 2022
10:08 am
turquoise
Member
Members
Forum Posts: 53
Member Since:
April 30, 2022
sp_UserOfflineSmall Offline

JohnnyCash said

The Motive HISA account is named Savvy Savings. Money Mover is the EFT process to transfer funds to and from other financial institutions. The Savvy savings account is currently paying 1.45%. Motive is not favorite financial institution, I do find them reliable though.  

Thank you sir - I will edit my response with the correct name. My experience with Motive has been fine, but admittedly my interactions have been limited.

May 11, 2022
2:20 pm
file
Member
Members
Forum Posts: 118
Member Since:
August 1, 2015
sp_UserOfflineSmall Offline

For Motive I've found their agents to be able to take care of anything I've thrown at them, unlike EQ which seems to have gotten big enough that support staff are limited in what they are allowed to do/capable of doing. I think every time I've contacted EQ they've had to send off a request to someone elsewhere to action it.

May 11, 2022
4:12 pm
Vatox
Member
Members
Forum Posts: 1146
Member Since:
October 29, 2017
sp_UserOfflineSmall Offline

I wonder if someone tried to login too many times incorrectly.

May 12, 2022
7:33 am
KamWest
Toronto
Member
Members
Forum Posts: 216
Member Since:
December 20, 2019
sp_UserOfflineSmall Offline

I always had good customer service at Motive but at Hubert it is insane good. Instant, they call me as soon as I have an issue. I have NEVER had service that good.

Motus is ok via secure message, same with laurentian, b2b, and Meridian.

Simplii the chat is useless you have to call and response is OK

Please write your comments in the forum.